Reuters US Business

By Dawn Chmielewski, Matt Tracy and Milana Vinn (Reuters) -Credit ratings agency Fitch Ratings on Wednesday downgraded Warner Bros Discovery to junk status following the company’s announced split-up earlier this week, as investors weigh the deal’s likely impact on holders of its debt.  “The downgrade reflects Fitch’s expectation post-transaction, WBD will be smaller and less …

Warner Bros’ credit rating downgraded to junk by Fitch on split-up Read More »

By Walter Bianchi and Rodrigo Campos BUENOS AIRES/NEW YORK (Reuters) -Argentine traders cheered on Wednesday a court’s political ban on populist former President Cristina Fernandez de Kirchner, a powerful but divisive politician who often clashed with investors and creditors. The country’s Supreme Court on Tuesday upheld a ruling against the former president, who was sentenced …

Argentine market traders cautiously cheer ‘future without Cristina’ Read More »

(Reuters) -Steelmaker ArcelorMittal’s Canadian long products unit said on Wednesday that it was laying off 153 workers as part of a restructuring of its wire drawing activities. The unit’s wire drawing mill in Hamilton, Ontario, will be shut down permanently in the coming weeks. Its activities, primarily intended for the telecommunications, construction and automotive markets, …

ArcelorMittal’s Canadian unit to close Hamilton wire drawing mill, lay off 153 workers Read More »

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent said that the Republican tax and spending bill under consideration will prevent hundreds of billions of dollars of corporate tax payments from going to foreign governments. Bessent told a U.S. House of Representatives Ways and Means Committee hearing that the Biden administration “chose to outsource American sovereignty on …

Bessent says Republican tax bill will reclaim US corporate tax sovereignty Read More »

(Reuters) -China is putting a six-month limit on rare-earth export licenses for U.S. automakers and manufacturers, The Wall Street Journal reported on Wednesday citing people familiar with the matter. (Reporting by Urvi Dugar)